Since Sam Zell acknowledged for the first time today that there are outside parties asking about Newsday, the paper’s publisher, Tim Knight, was forced to acknowledge it as well. He has just sent a memo out to his staff, explaining that he knows “this creates uncertainty.” The memo is revealing since it seems to show that Mr. Knight knows as much as we know: not much.
Dear fellow Newsday employee,
Sam Zell hosted a conference call with Tribune lenders today. In the course of taking questions, he acknowledged that he has received inquiries about Newsday.
As we all know, Newsday does an excellent job of serving a very desirable marketplace of people who are highly valued by advertisers. It is not surprising that the possibility of acquiring Newsday would generate a lot of interest. Whether anything will ultimately happen as a result of these expressions of interest is not known at this time. I know this creates uncertainty; however, the people of Long Island are depending on us to stay focused on delivering them local, unique and useful news and information, such as our important investigative coverage of LI school districts’ pension scandal.
If and when there is something tangible to report, I will let you know.